NEW YORK, NY / ACCESSWIRE / January 17, 2019 / Despite concerns of a partial government shutdown, U.S. markets extended gains for the second consecutive session on Wednesday on strong earnings from Bank of America Corp. and Goldman Sachs Group. The financial sector was the largest gainer with a 2.2 percent gain on Wednesday. The Dow Jones Industrial Average surged 0.59 percent to close at 24,207.16, while the S&P 500 Index rose 0.22 percent to close at 2,616.10. The Nasdaq Composite Index gained 0.15 percent to close at 7,034.69.
“The market is where it should be,” Bob Doll, senior equity strategist and portfolio manager at Nuveen, told MarketWatch. “Earnings so far have been mixed, but skewing positive,” he said, adding that management commentary has been “fairly optimistic so far.”
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Weibo’s stock jumped 4.72% Wednesday, to close the day at $57.24. The stock recorded a trading volume of 2,087,799 shares, which was below its three months average volume of 2,379,239 shares. In the last year, Weibo’s shares have traded in a range of 53.11 - 142.12. The share price has gained 7.78% from its 52 week low. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $60.29 is below its 200-day moving average of $69.58. Shares of the company are trading at a Price to Earnings ratio of 24.15. Shares of Weibo have fallen roughly 5.81 percent in the past month and are down 2.04 percent year-to-date.
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On Wednesday, shares of YY recorded a trading volume of 771,548 shares, which was below the three months average volume of 987,461 shares. The stock ended the day 4.21% higher at $70.97. The share price has fallen 50.36% from its 52 week high with a 52 week trading range of 55.55 - 142.97. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $63.95 is below its 200-day moving average of $73.86. Shares of the company are trading at a Price to Earnings ratio of 17.57. Shares of YY have gained roughly 18.96 percent in the past month and are up 18.56 percent year-to-date.
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SOURCE: The Market Edge